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Traditional IRAs are by far a more common investment choice than Roth IRAs. Some 90 percent of people opt for the former rather than the latter.

It seems the lure of the upfront tax break from a traditional IRA is more appealing than the long-term tax benefits associated with a Roth IRA!

What is a non-deductible Roth IRA?

With Roth IRAs, you’re allowed to contribute up to $5,500 each year ($6,500 for those 50 and older). There’s no upfront tax break like there is with a traditional IRA. But a Roth can be spent tax-free in retirement, unlike a traditional IRA.

Sometimes I hear people worry about a future Congress coming along and cheating people by taxing Roth accounts in retirement. Well, anything is possible, but it’s not something I actively worry about.

Those who earn near or above $100,000 as a single person or more than $180,000 as a married couple typically can’t do a Roth. If that’s you, you should know about a special opportunity that’s commonly called a backdoor Roth, aka a non-deductible IRA.

High-income earners can rush to open a non-deductible IRA, up to $5,500. And then if you jump through a few hoops, you are able to convert that money to a Roth immediately. It’s one extra step, but it offers you the opportunity.

Who should move a regular IRA into a Roth? Consider it if you are younger (specifically under 40) and have a traditional IRA and the free cash to pay the earnings tax. In addition, any wealthy retirees facing required minimum distributions should consider doing this too. But if you are on the cusp of retirement, there’s really no point to convert to a Roth — especially if you have a pension and other sources of income.

Remember, in general, tax rates are likely to go higher over the years no matter which political party is in power. That means it makes more sense to skip the deduction of a traditional IRA now to avoid tax later with a Roth IRA.

Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to put more money in your pocket, with advice you can trust. More about Clark